KARACHI: The Customs Court granted bail to suspect namely Muhammad Ali owner of M/s Glow Industries against the surety of Rs300,000 and directed him to appear before the court for next date of hearing or otherwise, who was nominated in first information report (FIR) for fake/ bogus input and refund of sales tax of Rs 7.819 million.
On 25 March 2021, during the hearing, above mentioned suspect appeared before the court along with his counsel and moved bail application, defence counsel argues that his client is innocent and has been falsely implicated in this case, he is ready to furnish surety, therefore, court restrain customs officials from his arrest and grant him bail till final judgment in this case.
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After the arguments, the court granted his bail and directed him to appear before the court for the next date of hearing.
Earlier, investigation officer of Commissioner Inland Revenue -I CTO, Karachi submits above mentioned company is non-existent at the registered premises, it has been further reported that no manufacture in activity whatsoever has been carried out on the declared premises and got themselves registered as a manufacturer with the sole intention of causing loss to the exchequer by way of claiming fake/ bogus input and refund of sales tax amount.
He further submitted that above mentioned accused and others were therefore called upon to show cause notice as to why no traction under rules 37 of the sales tax rules, 2006 read with section 11(3) of the sales tax act, 1990 may be taken against them for committing tax fraud within the meanings of section 2(37) of sales tax act, 1990 for illegal input tax and sales tax refund and fraudulently claiming to be a manufacturer of zero rated items under SRO 549, in clear violation 10 of the sales tax act, 1990.
He further argued that during the investigation, it was found that the above-mentioned suspect is involved in sales tax refund fraudulently claiming to be a manufacturer of zero rated items under SRO 549 amounting of Rs7. 819 million.
